FT: Hungary demands removal of sanctions on Russian oligarch Fridman in exchange for lifting its veto
Hungary is demanding the removal of Russian oligarch Mikhail Fridman from the EU sanctions list, threatening to block the extension of the European Union's sanctions against nearly 2,000 Russians if their demand is not met.
As reported by Financial Times, the travel bans and asset freezes imposed by the EU on politicians and businessmen who supported or contributed to Russia's war against Ukraine will expire on Saturday unless all 27 EU countries agree to extend them for another six months.
Four FT sources said that Hungary's ambassador to the EU has insisted that Fridman, who made his fortune in Russia before moving to London 10 years ago, be removed from the list as the price Budapest is demanding to allow the continuation of all other sanctions.
EU ambassadors will meet in Brussels on Thursday after several days of negotiations that have so far failed to produce a compromise.
Ukraine's most loyal allies, including the Baltic states, are opposed to any easing of EU sanctions against Moscow, especially before any negotiations for a ceasefire under US mediation are concluded.
According to three officials, Luxembourg supports efforts to remove Fridman from the list. Last year, Fridman filed a lawsuit against Luxembourg, where he holds shares in the London-based investment firm LetterOne, demanding compensation for losses linked to sanctions amounting to US$15.8 billion.
Initially, Hungary sought to remove eight names from the sanctions list, including other Russian billionaires such as Alisher Usmanov and Fridman's long-time partner Petr Aven. However, Budapest is now reportedly insisting on the removal of Fridman alone.
As previously reported by European Pravda, Brussels is informally preparing for the scenario in which Hungary will block the extension of anti-Russian sanctions, with the sanctions packages potentially ending on 16 March.
Currently, European negotiators are looking to use all available methods to persuade Hungary and close the sanctions decision on time.